Abstract
This research's title is "Applications of Capital Budgeting Method in Feasibility Study of Rooms and Ballroom Investment at Hotel Panorama Lembang", the purpose of this research are to know the feasibility of hotel investment based on financial projection aspect which using Capital Budgeting Method at Hotel Panorama Lembang. The feasibility of investment evaluate by the tools of capital budgeting model, which is have aspect of Discounted Payback Period, Net Present Value, Internal Rate Of Return, and Profitability Index in Hotel Panorama Lembang. The results of this research from the financial projection evaluated with the tools of capital budgeting evaluation which have the results can be seen that investment is feasible, as calculated by the method of discounted payback period is 8 years and 2 months based on hotel evaluation and 6 years and 11 months based on writer's evaluation, net present value in positive result (NPV > 0) in the amount of Rp. 1.743.693.325 , Internal Rate of Return is higher than the discounted factor of 12% in the amount of 23.9303%, profitability index is in positive result higher than 1. Based upon this calculation summarised that the feasibilty of investment based on financial projection are accepted. Based on the evaluation from the capital budgeting method, the criteria of investment at Hotel Panorama Lembang are accepted. The management used the methods which doesn't improve a good result in feasibility. Methods that used by the author more improve a good result in investing decisions, because using a selection of forecasting methods for future revenues. The author used a time series forecasting methods to improve more revenues for hotel. This forecasting method can provide the closest forecast result and the highest rate of accuracy. The author recommends to the management of Panorama Hotel Lembang to continue and accepted the investment of new rooms and ballroom. Considering the result of a feasebility study with a capital budgeting methods are accepted. The author also recommends to the management of Panorama Hotel Lembang to use a proper forecasting methods, such as time series methods.
Highlights
Judul penelitian ini adalah "Aplikasi Metode Penganggaran Modal dalam Studi Kelayakan Investasi Kamar dan Ballroom di Hotel Panorama Lembang", tujuan penelitian ini adalah untuk mengetahui kelayakan investasi hotel berdasarkan aspek proyeksi keuangan yang menggunakan Metode Penganggaran Modal dengan menggunakan Metode Penganggaran Modal di Hotel Panorama Lembang
the purpose of this research are to know the feasibility of hotel investment based on financial projection aspect
The results of this research from the financial projection evaluated with the tools of capital budgeting evaluation which have the results can be seen that investment is feasible
Summary
Adanya Peraturan Pemerintah (Perda) Kota Bandung Barat untuk menaikkan Pendapatan Asli Daerah (PAD) pada sektor pariwisata, merupakan salah satu faktor pendorong Hotel Panorama Lembang untuk melakukan penambahan asset. Dengan adanya Peraturan Daerah tersebut akan menarik lebih banyak wisatawan untuk datang ke daerah Bandung, khususnya daerah Bandung Utara dan hal ini akan berdampak pula pada bertambahnya jumlah permintaan kamar maupun fasilitas konvensi di Hotel Panorama Lembang. Hal ini yang mendukung keputusan dewan direksi dan manajemen Hotel Panorama Lembang untuk melakukan penambahan asset berupa penambahan 16 unit kamar hotel dan perluasan ballroom sebagai fasilitas di Hotel Panorama Lembang. Keputusan dewan direksi dan manajemen Hotel Panorama Lembang tidak semata-mata hanya merujuk kepada Peraturan Daerah yang ada, akan tetapi didukung juga dengan positioning permintaan di Hotel Panorama Lembang pada tahun 2014. Hotel Panorama Lembang merupakan salah satu usaha akomodasi di Bandung Utara yang berfokus pada segmen pengunjung MICE (meeting, incentive, convention, dan exhibition). Aspek Manajemen dan Sumber Daya Manusia Aspek yang menyangkut siapa dan bagaimana pelaksanaan operasional hotel tersebut nantinya
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